IN BRIEF.VALLEY INDEX CLIMBS: Shares of most companies in the Daily News Index were higher Friday, led by Foundation Health Services Inc. of Woodland Hills and Amgen Inc. of Thousand Oaks FHS FHS - Filesystem Hierarchy Standard gained $1.5625 to $11.1875 while Amgen jumped $6.875 to $68.- Daily News PROBE SUBJECT: Calabasas-based Superior National Insurance Group Inc. confirmed on Friday that it is part of a probe by the California Department of Insurance The California Department of Insurance (CDI), established in 1868, is the angency charged with overseeing the regulation of insurance regulations, enforcing statutes mandating consumer protections, educating consumers, and fostering the stability of insurance markets in the state . The department earlier this week said that it would hold an investigatory hearing into the business practices of United States Life Insurance Company, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of American General Corp. That hearing is related to one of Superior National's two quota share reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. contracts with subsidiaries of AGC AGC Automatic Gain Control AGC Automotive Glass Cartridge (fuse) AGC Associated General Contractors AGC Associated General Contractors of America AGC Atypical Glandular Cells AGC Attorney-General's Chambers . Superior National believes the state's action against US Life may have resulted from its recent demand for arbitration of the reinsurance contract. Superior National is the largest private sector underwriter of workers' compensation insurance in California. - Daily News NEW DIVISION: IPC, one of the nation's largest hospital companies, has launched a consulting division designed to assist hospitals, medical groups and health plans nationwide develop and implement hospital programs. The North Hollywood-based company also appointed Jay Arnold as executive director of consulting services. The new consulting division will provide such services as program feasibility analysis, training materials and network set-up, the company said in a statement. - Daily News DIVIDEND DECLARED: Flamemaster Corp. authorized an increase in its quarterly cash dividend to 3.2 cents from 3 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , a 6.7 percent increase. The dividend is the 43rd consecutive quarterly cash dividend, to be paid Feb. 17 to shareholders of record on Jan. 25. Flamemaster makes sealants and coatings for the aerospace and defense industries. - Daily News NEW DEAL: Homestore.com, a Thousand Oaks-based Internet portal for home-related information, is partnering with the American Institute of Architects The American Institute of Architects (AIA) is a professional organization for architects in the United States. Organized in 1857, the Institute conducts various activities and programs to support the profession and enhance its public image, including periodically awarding the AIA to give users access to an online listing of architects. Under the agreement, visitors to www.homestore.com will be able to find architects located in their area with specialties that meet their needs. In addition, the AIA will provide Homestore.com content related to residential architectural services. - Daily News |
|
||||||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion